UK's Iron or Steel Tube Fitting Market to Witness Steady Growth with +1.9% CAGR Over Next Decade - News and Statistics - IndexBox

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IndexBox has just published a new report: United Kingdom - Tube Or Pipe Fittings (Of Iron Or Steel) - Market Analysis, Forecast, Size, Trends and Insights.

The UK market for iron or steel tube fitting is projected to see a slight increase in performance over the period from 2024 to 2035, with a predicted CAGR of +1.9% in volume and +2.1% in value. By the end of 2035, the market volume is expected to reach 126K tons and the market value to reach $1.3B in nominal prices.

Driven by rising demand for iron or steel tube fitting in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.9% for the period from 2024 to 2035, which is projected to bring the market volume to 126K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $1.3B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of tube or pipe fittings (of iron or steel) was finally on the rise to reach 103K tons for the first time since 2021, thus ending a two-year declining trend. Overall, consumption, however, showed a abrupt slump. Over the period under review, consumption reached the peak volume at 194K tons in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The value of the market for tube or pipe fittings (of iron or steel) in the UK stood at $1B in 2024, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a abrupt shrinkage. Iron or steel tube fitting consumption peaked at $2.7B in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

Iron or steel tube fitting production in the UK amounted to 46K tons in 2024, remaining stable against 2023 figures. Over the period under review, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2019 with an increase of 3.1% against the previous year. Over the period under review, production hit record highs at 156K tons in 2013; however, from 2014 to 2024, production failed to regain momentum.

In value terms, iron or steel tube fitting production totaled $947M in 2024 estimated in export price. In general, production, however, showed a abrupt setback. The growth pace was the most rapid in 2022 when the production volume increased by 14%. Iron or steel tube fitting production peaked at $3B in 2013; however, from 2014 to 2024, production remained at a lower figure.

In 2024, purchases abroad of tube or pipe fittings (of iron or steel) was finally on the rise to reach 79K tons for the first time since 2021, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 102% against the previous year. As a result, imports attained the peak of 135K tons. From 2022 to 2024, the growth of imports failed to regain momentum.

In value terms, iron or steel tube fitting imports stood at $670M in 2024. The total import value increased at an average annual rate of +1.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Imports peaked in 2024 and are expected to retain growth in the near future.

In 2023, China (29K tons) constituted the largest iron or steel tube fitting supplier to the UK, with a 40% share of total imports. Moreover, iron or steel tube fitting imports from China exceeded the figures recorded by the second-largest supplier, Italy (10K tons), threefold. The third position in this ranking was taken by India (6.4K tons), with an 8.8% share.

From 2013 to 2023, the average annual rate of growth in terms of volume from China amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.8% per year) and India (+6.4% per year).

In value terms, the largest iron or steel tube fitting suppliers to the UK were China ($119M), Italy ($116M) and the United States ($88M), with a combined 49% share of total imports.

China, with a CAGR of +6.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Tube or pipe flanges other than stainless steel (17K tons), iron or steel cast fittings, other than of non-malleable cast iron (16K tons) and tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (16K tons) were the main products of iron or steel tube fitting imports to the UK, with a combined 63% share of total imports. Iron or steel cast fittings of non-malleable cast iron, tube or pipe flanges of stainless steel, tube or pipe butt welding fittings other than of stainless steel, tube or pipe threaded elbows, bends and sleeves of stainless steel, tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings, tube or pipe threaded elbows, bends and sleeves other than of stainless steel and tube or pipe butt welding fittings of stainless steel lagged somewhat behind, together accounting for a further 37%.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by tube or pipe threaded elbows, bends and sleeves of stainless steel (with a CAGR of +5.1%), while imports for the other products experienced more modest paces of growth.

In value terms, tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($163M), tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($99M) and iron or steel cast fittings, other than of non-malleable cast iron ($82M) appeared to be the most imported types of tube or pipe fittings (of iron or steel) in the UK, with a combined 51% share of total imports. Tube or pipe flanges of stainless steel, tube or pipe threaded elbows, bends and sleeves of stainless steel, tube or pipe flanges other than stainless steel, iron or steel cast fittings of non-malleable cast iron, tube or pipe butt welding fittings other than of stainless steel, tube or pipe threaded elbows, bends and sleeves other than of stainless steel and tube or pipe butt welding fittings of stainless steel lagged somewhat behind, together comprising a further 49%.

In terms of the main product categories, tube or pipe butt welding fittings other than of stainless steel, with a CAGR of +4.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

In 2024, the average import price for tube or pipe fittings (of iron or steel) amounted to $8,497 per ton, with a decrease of -6.6% against the previous year. Overall, import price indicated modest growth from 2013 to 2024: its price increased at an average annual rate of +1.9% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, iron or steel tube fitting import price increased by +102.8% against 2021 indices. The pace of growth was the most pronounced in 2022 when the average import price increased by 83%. The import price peaked at $9,098 per ton in 2023, and then fell in the following year.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($39,214 per ton), while the price for tube or pipe flanges other than stainless steel ($3,359 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (+11.0%), while the prices for the other products experienced more modest paces of growth.

The average import price for tube or pipe fittings (of iron or steel) stood at $9,098 per ton in 2023, picking up by 19% against the previous year. Over the period under review, import price indicated a measured expansion from 2013 to 2023: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron or steel tube fitting import price increased by +117.2% against 2021 indices. The pace of growth was the most pronounced in 2022 an increase of 83%. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($45,184 per ton), while the price for India ($4,126 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.3%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, the amount of tube or pipe fittings (of iron or steel) exported from the UK reduced to 22K tons, dropping by -8.6% compared with 2023. In general, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 5.2%. Over the period under review, the exports reached the maximum at 44K tons in 2013; however, from 2014 to 2024, the exports remained at a lower figure.

In value terms, iron or steel tube fitting exports rose remarkably to $615M in 2024. Over the period under review, exports recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2022 when exports increased by 15%. Over the period under review, the exports reached the maximum at $860M in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

France (2.8K tons), Ireland (2.8K tons) and Germany (2.2K tons) were the main destinations of iron or steel tube fitting exports from the UK, together comprising 33% of total exports. The Netherlands, the United States, Norway, Saudi Arabia, the United Arab Emirates, Brazil, Canada and Italy lagged somewhat behind, together comprising a further 30%.

From 2013 to 2023, the biggest increases were recorded for Brazil (with a CAGR of +3.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Germany ($53M), the United States ($50M) and Norway ($43M) appeared to be the largest markets for iron or steel tube fitting exported from the UK worldwide, together comprising 25% of total exports. Ireland, the Netherlands, Brazil, Saudi Arabia, France, the United Arab Emirates, Italy and Canada lagged somewhat behind, together comprising a further 34%.

In terms of the main countries of destination, Brazil, with a CAGR of +5.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Iron or steel cast fittings of non-malleable cast iron (6K tons), tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (4.7K tons) and tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (3K tons) were the main products of iron or steel tube fitting exports from the UK, together comprising 63% of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings (with a CAGR of +3.4%), while the other products experienced a decline.

In value terms, tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($177M), tube or pipe fittings of non-stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings ($169M) and iron or steel cast fittings of non-malleable cast iron ($56M) were the most exported types of tube or pipe fittings (of iron or steel) from the UK worldwide, with a combined 65% share of total exports.

Tube or pipe fittings of stainless steel other than flanges, elbows, bends, sleeves or butt welding fittings, with a CAGR of +0.1%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced a decline.

The average export price for tube or pipe fittings (of iron or steel) stood at $28,335 per ton in 2024, jumping by 16% against the previous year. Over the period under review, export price indicated pronounced growth from 2013 to 2024: its price increased at an average annual rate of +3.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, iron or steel tube fitting export price increased by +82.9% against 2018 indices. The most prominent rate of growth was recorded in 2022 an increase of 22%. Over the period under review, the average export prices reached the peak figure in 2024 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was tube or pipe threaded elbows, bends and sleeves of stainless steel ($66,236 per ton), while the average price for exports of iron or steel cast fittings of non-malleable cast iron ($9,334 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: tube or pipe threaded elbows, bends and sleeves of stainless steel (+8.6%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average export price for tube or pipe fittings (of iron or steel) amounted to $24,410 per ton, surging by 4.8% against the previous year. Over the period under review, export price indicated a temperate increase from 2013 to 2023: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, iron or steel tube fitting export price increased by +57.6% against 2018 indices. The pace of growth was the most pronounced in 2022 an increase of 22% against the previous year. The export price peaked in 2023 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Brazil ($42,576 per ton), while the average price for exports to France ($8,916 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.9%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for iron or steel tube fitting in the UK. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles